WHEREAS it is wise and prudent for the State of Colorado to prepare for unavoidable future times of economic decline in times of economic prosperity; and
WHEREAS there is no current provision for a contingency or emergency fund to be utilized in times of economic decline;
NOW THEREFORE BE IT RESOLVED that CLUB 20 supports allowing a portion of excess state revenues to be designated for a newly-created “Rainy Day Fund” with appropriate limits on the legislature’s ability to spend these funds.
Adopted September 5, 2003
Renewed April 1, 2011